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3467 Culpepper Terr. North Port, FL 34286

3 Beds 2 Baths 1,661 sqft Built 2004

$299,900

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $180.55
  • 2 Days on Market
  • MLS # : D6115524
  • Updated Date : 12/26/2020 at 16:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,661 sqft
  • Baths : 2 full
Listing Agent

Paradise Exclusive Inc.

Listing Agent's Description

If lifestyle matters, then this charming, move-in-ready 3 bedroom/2 bath/PLUS DEN-FLEX ROOM/pool home, found nestled on a quiet street in the highly desired community of North Port, is for you. Upon entry, guests will appreciate a cheerful, yet neutral color palette that creates a cozy and eye-appealing ambience throughout the home. Expansive sliders lead from the great room to the lanai, gracefully integrating the indoor/outdoor living areas. Just steps through this door, a recently resurfaced pool and a fully fenced backyard await. At the heart of the home is the welcoming kitchen that is highlighted by an eat-in dinette overlooking the pool, a pantry closet, a raised breakfast bar to provide additional dining space when needed, and attractive ceramic tile flooring to help keep everything neat and tidy. The home's split floor plan allows for ample privacy for owners and guests, and the Master suite is an inviting respite after a fun-filled day at the beach, with an adjacent Master bath that offers dual sinks and a convenient walk-in shower. There is den/flex room which is the perfect place for use as a home office, or as an additional living area/tv room. For additional peace of mind, this home is equipped with hurricane protection, is in an X-FLOOD ZONE, and a new septic and AC were installed within the last 2 years. The home's exterior has been repainted further enhancing its already abundant curb appeal. This charming home can be found on a quiet street, yet it is located near shopping venues, restaurants, medical services with easy access to U.S 41, I-75, and the Punta Gorda Airport. Pristine Gulf beaches and the new spring training facility for the Atlanta Braves are within a short drive. Perfect as a warm Winter escape, or for use as a full-time residence, this house is just waiting for you to call it 'home'. If this sounds intriguing, what are you waiting for? Call today to schedule a private showing, and prepare to be captivated.

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MARKET HIGHLIGHTS

  • 2nd Best City for Young Entrepreneurs (Forbes)
  • Florida state ranks 4th most favorable in the country in State Business Tax Climate Index (Tax Foundation, 2019). Tampa inherits the rank being part of Florida.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)
  • Headquarters to several Fortune 1000 companies: Publix Super Markets, Tech Data, Jabil Circuit, WellCare Health Plans, Raymond James Financial, Bloomin’ Brands, HSN, and TECO Energy (Fortune, 2018)
  • #8 in America's Fastest Growing Cities (Forbes, 2018)
  • Tampa metro employment growth is at 2.6% and predicted to grow at 2.1% in 2019 (USMayors.org, 2018)
  • One of the best cost-friendly American cities to do business (KPMG)
  • Tampa metro contributes to 15.4% of Florida state economy i.e. Gross State Product (USMayors.org, 2018)
  • #2 in Homebuilding Prospects #10 in Overall Real Estate Prospects (Emerging Trends in Real Estate 2019, PWC)

PRICE & RENT TRENDS

Neighborhood: North Port Charlotte

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k297k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: North Port Charlotte

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q210001100120013001400150016001700180019002000Rent in $9362041

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Lamarque Elementary School Primary Regular 805 65 7
Woodland Middle School Middle Regular 857 50 7
North Port High School High Regular 2,315 119 6

Lamarque Elementary School

  • Education Level: Primary
  • # of students: 805
  • # of teachers: 65
7
GreatSchools Rating

Woodland Middle School

  • Education Level: Middle
  • # of students: 857
  • # of teachers: 50
7
GreatSchools Rating

North Port High School

  • Education Level: High
  • # of students: 2,315
  • # of teachers: 119
6
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,107
Property Tax -$369
Property Insurance -$138
Property Management Fees -$129
CASH FLOW
-$32

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$299,900

PROJECTED PRICE

$1,710

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 9.9%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$21,175

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,710

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,408

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4003$1,4004$1,5005$1,710
$1,710
RENT COMPS ANALYSIS
  • 3467 Culpepper Terr. North Port, FL 5
    • 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $1.03
    •  
  • 2619 Carthage St North Port, FL 1
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 2001
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.83
    •  
  • 3604 Spinner Ave North Port, FL 2
    • 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 2006
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.77
    •  
  • 3643 Spinner Ave North Port, FL 3
    • 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 2005
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
  • 3442 Everett Ter North Port, FL 4
    • 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 2005
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
PROPERTY LISTING DETAILS
Terri Hesse
1.941.662.6466
Paradise Exclusive Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: D6115524
Last Updated: 12/26/2020
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